Equities research analysts forecast that El Paso Electric Company (NYSE:EE) will announce earnings of $1.57 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for El Paso Electric’s earnings. The highest EPS estimate is $1.61 and the lowest is $1.52. El Paso Electric reported earnings of $1.84 per share during the same quarter last year, which suggests a negative year over year growth rate of 14.7%. The business is scheduled to announce its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that El Paso Electric will report full year earnings of $2.51 per share for the current fiscal year, with EPS estimates ranging from $2.40 to $2.61. For the next financial year, analysts anticipate that the firm will report earnings of $2.75 per share, with EPS estimates ranging from $2.53 to $2.85. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow El Paso Electric.
El Paso Electric (NYSE:EE) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.14. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. The company had revenue of $251.84 million during the quarter. During the same quarter in the previous year, the firm earned $0.55 earnings per share.
EE has been the subject of several recent analyst reports. BidaskClub downgraded shares of El Paso Electric from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded shares of El Paso Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Jefferies Group LLC restated a “hold” rating and issued a $56.00 target price (up from $55.00) on shares of El Paso Electric in a research note on Friday, August 11th. Mizuho initiated coverage on shares of El Paso Electric in a research note on Thursday, August 17th. They issued a “neutral” rating and a $55.00 target price for the company. Finally, ValuEngine upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $53.25.
Shares of El Paso Electric (NYSE:EE) traded down 0.09% during trading on Tuesday, reaching $55.10. 162,747 shares of the company were exchanged. El Paso Electric has a 1-year low of $42.49 and a 1-year high of $56.58. The company’s 50-day moving average is $54.28 and its 200 day moving average is $52.08. The firm has a market capitalization of $2.24 billion, a PE ratio of 19.91 and a beta of 0.48.
In other news, Director Charles Yamarone sold 3,500 shares of El Paso Electric stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $52.47, for a total transaction of $183,645.00. Following the completion of the sale, the director now directly owns 10,000 shares in the company, valued at $524,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.33% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. Arizona State Retirement System lifted its stake in shares of El Paso Electric by 0.5% during the second quarter. Arizona State Retirement System now owns 21,201 shares of the utilities provider’s stock worth $1,096,000 after buying an additional 100 shares during the period. Stifel Financial Corp lifted its stake in shares of El Paso Electric by 7.6% during the first quarter. Stifel Financial Corp now owns 7,018 shares of the utilities provider’s stock worth $357,000 after buying an additional 494 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of El Paso Electric by 11.9% during the first quarter. PNC Financial Services Group Inc. now owns 10,152 shares of the utilities provider’s stock worth $512,000 after buying an additional 1,082 shares during the period. Nationwide Fund Advisors lifted its stake in shares of El Paso Electric by 3.4% during the first quarter. Nationwide Fund Advisors now owns 77,165 shares of the utilities provider’s stock worth $3,897,000 after buying an additional 2,515 shares during the period. Finally, Texas Permanent School Fund lifted its stake in shares of El Paso Electric by 0.8% during the second quarter. Texas Permanent School Fund now owns 29,612 shares of the utilities provider’s stock worth $1,531,000 after buying an additional 248 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.
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El Paso Electric Company Profile
El Paso Electric Company is a public utility company. As of December 31, 2016, the Company was engaged in the generation, transmission and distribution of electricity in an area of approximately 10,000 square miles in west Texas and southern New Mexico. As of December 31, 2016, the Company owned or had ownership interests in several electrical generating facilities providing it with a generating capability of approximately 2,080 megawatts (MW).
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